Is the Bombay stock exchange a listed exchange as is the New York Stock Exchange?

Answer 1

This is actually quite a technical question. "Listed exchange" can bear a general meaning and a technical (legal) meaning. On the basis that "listed exchange" generally means, as widely understood in the financial world, a stock exchange which (i) is regulated by market disclosure, insider dealing, entry qualification etc. requirements in common with international standards, (ii) offers sufficient liquidity to attract international investors, then the answer is yes, the Bombay Stock Exchange is a listed exchange. However, "listed exchange" and similar terms bear different meanings in a legal terms. For instance, the UK Inland Revenue has a concept of "recognised stock exchange" - for example, you can invest your ISA allowance in listed securities, but they have to be listed on a recognised stock exchange, which the Revenue publishes a list of - broadly, most of the internationally know stock exchanges, but not the Bombay Stock Exchange. The EU Prospectus Directive applies to issuers on "regulated markets" - again, this bears a special meaning, and does not cover all stock exchanges in Europe. So, the short answer is yes, given that the Bombay Stock Exchange has international standing, but if you asking in a legal context, the answer may be more difficult. Hope this helps.